30/10/2024
AFCFTA PROJECT.
On the 30th of September our Director was accorded an opportunity to be part of the AFCFTA PROJECT which brought students and young professionals across the country to carefully evaluate and discuss the African continental Free Trade Area.
The project was organized by Students For Liberty, the following are some of the important points that were brought fourth;
ADVANTAGES
1. Access to high quality and low priced goods
2. increased economic development
3. Increased variety of goods
4. No monopoly
DISADVANTAGES
1. less tax Revenue
2. issues of Distrust
3. Threat of intellectual property
4. unfair competition among countries
Taking into consideration at some of the Pros and Cons. Creating a borderless Africa is an initiative that would require African Nations to overcome the barrier of Distrust which roots from colonialism and exploitation of our economies.
This barrier can be lifted through collaborative initiatives such as sharing certain economic benefits.
Additionally infrastructure deficiencies and inadequate transportation networks will have to be worked on for easier implementation of this agenda.
In conclusion each country has different economic factors and limitations hence the need to intensively carry out research with a fair representation of the sample size , to be able to measure it's effect on our economy.